this is a great first move, for any car, but especially bmw's. there are quite a few common things that are known weak oints in our chassis, but they are a blast to drive.

there are some stickies up at the top, and the one should have a checklist of things to keep inmind when looking at a bmw e36. it's a lot to take in all at once, so pace yourself.

as far as price goes, there are so many variables with this that i usually say check the local markets.

regardless, a pre-purchase inspection (ppi) should be considered mandatory, as there are some chronic (expensive) failure prone areas to be on the lookout for. (cooling system)
if that gets overlooked, then the resulting damage may be heartbreaking.

you could also do a vin check to see what options the vehicle came with from the factory, which you can check for 'value added-ness' (sport pkg, lsd , that sort of thing). the more of those then the more for the car.

don't be fooled with 'sun/moonroof' (99.9% have them), ac, power steering, and the like.

an 18 button obc is nice to see, as well as premium sound (2 speakers in the doors, not just 1), heated power seats, and manual transmission are nice.